On January 1, 2017, Faye gave Todd, her son, a 36-month certificate of deposit she purchased December 31, 2015, for $8,638. Faye gave Todd 1,000 shares of ABC, Inc., on December 2, 2017. The certificate had a maturity value of $10,000 and the yield to maturity was 5%. On November 30, 2017, ABC, Inc., had declared a dividend of $1.00 payable to stockholders of record on December 5th. How much interest and dividends should Todd include in his gross income for 2017?

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The Answer of On January 1, 2017, Faye gave Todd, her son, a 36-month certificate of deposit she purchased December 31, 2015, for $8,638. Faye gave Todd 1,000 shares of ABC, Inc., on December 2, 2017. The certificate had a maturity value of $10,000 and the yield to maturity was 5%. On November 30, 2017, ABC, Inc., had declared a dividend of $1.00 payable to stockholders of record on December 5th. How much interest and dividends should Todd include in his gross income for 2017?

On January 1, 2017, Faye Gave Todd, Her Son, a 36-Month